If you are a first time visitor to Playa del Carmen you are probably wondering what currency is used in Mexico. You may also be wondering if it is better bringing cash or cards. Well, in this weeks post we are going to talk about money!
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We are going to answer the following questions you may have:
What currency is used in Mexico?
What currency is the best to bring to Mexico?
Where can I exchange currency in Playa del Carmen?
Are the ATMs in Playa del Carmen safe to use?
Do the restaurants in Playa del Carmen accept debit or credit cards?
What currency is used in Mexico?
The national currency in Mexico is the Mexican Peso (MXN). However the US Dollar is widely accepted across Mexico especially in the more touristic places like Playa del Carmen. In fact most tour companies, restaurants, and even some shops will have their prices in both pesos and dollars.
You do need to be careful of the exchange rate though if you are paying in dollars it should be somewhere between 17-20 pesos to the dollar (January 2019). There will almost always be a sign somewhere telling you this. If the rate is 16 or below it is better to pay in pesos.
What currency should you bring to Mexico?
The best currency to bring to Mexico is a mix of pesos and US dollars. Use the dollars to pay for tours, entrance fees, accommodation, and travel.
For everything else use pesos.
It should be relatively simple to get pesos in your own country before you travel. Although if you are going to want a large amount then you may need to order them, which normally takes 1-3 days. So be sure to give yourself enough time before your vacation.
We recommend bringing at least a couple of hundred dollars worth of Mexican pesos with
you so you can get a good exchange rate and
it is also helpful to have some currency to pay for
your taxi from the airport and for any tips. Read here: “How to get from Cancun airport to Playa del Carmen”
Where can I exchange currency in Playa del Carmen?
If you find yourself in need of exchanging currency then there are plenty of places in Playa del Carmen where you can do this. You can exchange money in one of the banks, or at a money exchange shop. The rates will vary, as will the commission so do take your time to shop around a little for this.
As with many things in Playa del Carmen you often won’t get the best rate on 5th Avenue. Just by walking a few blocks up to 30th Avenue close to CTM you will find much better rates.
Are the ATMs in Playa del Carmen safe to use?
Many people ask is the ATMs in Playa del Carmen are safe to use, and the answer is yes, and no!
There have been many problems with the stand alone ATMs on the 5th Avenue.
Our recommendation is to avoid using these ATMs at all cost. You will not get a good rate, card cloning is common, and the charges are high for using them. Plus they are very open so it is easy for people to see you withdrawing your cash.
If you want to use an ATM then stick to using a ATM attached to a bank. For the lowest fee we recommend Santander who will charge you just over $40 pesos. They will also tell you the exchange rate so you know exactly what you are getting. Quite often this exchange rate is better than what you would get exchanging cash. Another reliable bank to use is HSBC, although they recently doubled their ATM fee on some of their cash machines to around $80 pesos.
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Do the restaurants in Playa del Carmen accept debit or credit cards?
This is another yes and no answer! If you are eating in a restaurant that caters for tourists then yes. However if you are in a more local place then probably not.
You can normally tell if you are in a restaurant that caters for tourists as the waiter will speak in English to you and you will be offered a menu in English. Almost all of the restaurants around the 5th Avenue will accept cards. If you are in a place with plastic chairs and tables, where the menu is in Spanish and the server doesn't speak English they probably aren’t going to accept cards.
If you aren’t sure just ask before you order.
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Tarjeta - is the Spanish word for card.
Efectivo - is the Spanish word for cash.
If you want to ask if they accept card you can simply say: “Aceptan tarjeta?” or “Aceptan tarjeta o solo efectivo?”
Or if all else fails just show them your credit card, I’m sure they will understand!
We really hope this helps to answer all of your Mexican currency questions! If we have missed anything, or you still have questions, leave us a comment below and we will get an answer back to you soon.
FAQs
Mexico's official currency is the Peso (MEX$), however U.S. dollars are widely accepted. Most businesses will give change back in U.S. dollars but it is always a good idea to bring small bills in case you get change in Pesos.
Is it better to take cash or card to Mexico? ›
The best way to spend in Mexico is a combination of both cash and your debit card. Larger businesses and those in major cities are likely to accept debit cards, but not all will. Some smaller stores and businesses may only accept cash. For example, market stalls, street food stands and taxis.
What is the best currency to bring to Mexico? ›
The best currency to bring to Mexico is a mix of pesos and US dollars. Use the dollars to pay for tours, entrance fees, accommodation, and travel. For everything else use pesos. It should be relatively simple to get pesos in your own country before you travel.
Is it better to carry USD or pesos in Mexico? ›
The recommendation is to use pesos in Mexico. Though some businesses may accept U.S. dollars, converting your currency to pesos is better. It ensures better exchange rates and wider acceptance. Many travelers get pesos from their home bank before their trip.
Should I pay in pesos or dollars with a credit card? ›
While there are some situations where it may make sense to use DCCs, it's usually better to pay in the local currency – especially if you use a credit card that doesn't charge foreign transaction fees.
Is $100 a lot of money in Mexico? ›
What can a handful of pesos get you in Mexico? Considering the fact that under current exchange rates, $100 USD equals approximately 1,671 MXN, so is $100 a lot of money in Mexico? Yes, you can get a whole heck of a lot from $100!
Should I exchange money before I travel to Mexico? ›
Ideally, you can exchange a few thousand pesos with your bank at home ahead of your trip. This way, you'll have cash for incidentals along the way.
How should I carry money in Mexico? ›
Using credit cards and debit cards in Mexico
Fewer vendors will honour cards provided by smaller companies, so do your research ahead of time. It's always a good idea to carry some cash on you as well, but don't carry around more than you plan to spend on any given day. You risk being unsafe, otherwise.
How much money should I bring for a week in Mexico? ›
For budget travelers, you can expect to spend around $30 to $50 per day in Mexico, including accommodation, food, transportation, and activities. For mid-range travelers, you can expect to spend around $80 to $150 per day, depending on your preferences and activities.
What currency to bring to Mexico for tipping? ›
Dollars or pesos? In most tourist areas in Mexico, it is acceptable to tip in either pesos or dollars, though pesos are more practical for the person being tipped. If you do tip in dollars, be sure to only tip using notes and not coins as coins cannot be exchanged.
1 MXN = 0.059024 USD Jun 03, 2024 01:26 UTC
The currency converter below is easy to use and the currency rates are updated frequently. This is very much needed given the extreme volatility in global currencies lately. Sending money abroad is as easy as ever.
Should I get pesos at airport? ›
Whether in the U.S. or at your destination, avoid airport kiosks or other exchange houses if you can. Those should only be used as a last resort, because they typically offer poor exchange rates and high fees, so you'll get less currency for your money.
Should you tip in Mexico? ›
Tipping at restaurants in Mexico is always expected. However, how much you tip varies on the level of service and location within the country. Because beach destinations tend to see more foreign tourists from the United States and Canada, it is customary to tip between 15 and 20 percent.
What is the best method of payment in Mexico? ›
In Mexico people prefer to pay with their MasterCard, VISA credit or debit card. Besides cards, unbanked Mexicans or people without access to debit/credit cards use popular online cash payment options like OXXO and 7Eleven. Shoppers order online and pay with cash at specific OXXO and 7Eleven stores.
Is it better to pay in local currency by card? ›
Research shows that in most cases you can save by opting to spend in the local currency. For example, that would mean choosing euros in Spain or dollars in the US. When you choose to pay in the currency of the region or country you're visiting, Visa or Mastercard will set the exchange rate.
Is it better to use an ATM or credit card in Mexico? ›
Preparing your travel money options beforehand is the key to a stress-free vacation. Credit cards, debit cards, prepaid travel cards and cash are all accepted in Mexico. Outside of a few purchases like transportation fare or local shops, a credit card will be your best bet for everyday purchases.
What is the best way to take travel money to Mexico? ›
Travel cards are generally a good way to take your funds overseas and spend in multiple currencies, but they're not all suitable for use in Mexico: Supported currencies. At the time of writing there are a few prepaid travel cards you can load with Mexican Pesos, including products from Wise and Travelex.
Should you travel with a credit and debit card to Mexico? ›
Should I use a debit card or credit card in Mexico? As long as the card has no foreign transaction fees, you can use both credit and debit cards in Mexico. However, a credit card could offer you more rewards and benefits for spending during your trip.
How many pesos should I bring to Mexico for a week? ›
If you are extremely budget conscious, you might be able to get by on 2,500 to 3,000 pesos (not including lodging expenses). On the other hand, one could easily spend 15,000 or more. It depends on where you eat, what you drink and the activities you enjoy.
